Credit Suisse shares plunge 11% after disappointing results

Thursday, 27. October 2022 10:17

Shares of Credit Suisse plunged on Thursday's trading following the publication of the bank's financial statement for the third quarter of the year.

The company's revenues, pre-tax loss, and CET1 ratio fell compared to the same period last year. In addition, the net loss reached 4 billion Swiss francs, compared to a net profit of 434 million in Q3 2021. CEO Ulrich Korner recognized that the bank has "been significantly impacted by the continued challenging market and macroeconomic conditions."

Credit Suisse shares were down 11.46% at 10:17 am CET to sell for 4.2170 Swiss francs.

Related Links: Credit Suisse Group
Author:
Baha Breaking News (BBN) / JG